by Robert Holman | The Defensive Advisor | January 5, 2021
MARKET NEUTRAL … Rating of 5 (0 - 4 is bearish, 5 is neutral, 6 - 10 is bullish. My rating of Neutral is out of caution, rather than any particular signal I’m seeing. But, I am concerned that some economic data is not as good as it could be.
We had another Monday of significant negative price action. There were two reasons in my view for this – concern about the Georgia Senate election, which got much of the press time, and profit taking. As to the latter, there were many people that wanted to sell during the fourth quarter that delayed taking profits until Friday or Monday (i.e., 2021) to avoid paying 2020 taxes this coming April.
Meanwhile, the $900 billion bi-partisan stimulus package finally passed. As I’ve said before, it won’t really push stock prices up, but it will help many unemployed and underemployed people.
Bitcoin set new highs again at more than $33,000. That’s up more than $10,000 since I began to mention it in this blog.
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